Capitol Hill — The House of Representatives sitting on the 18th and final day of the second session of the third quarter of the 55th Legislature endorsed the report of its Joint Committee on Ways, Means, and Public Accounts with the passage of the Draft 2026 National Budget.
The total approved budget amounts to LR$247 billion ( US$1,249,665,191.15) and is intended to support the government's operations from January 1 to December 31, 2026.
According to the Committee, this financial framework is meticulously balanced, detailing both core and contingent revenue and expenditure at the same precise amounts. Finally, the text specifies the exchange rate calculation
"Mr. Speaker, Mr. Deputy Speaker, the Joint Committee on Ways, Means, and Public Accounts, having completed a thorough scrutiny of the financial plan, has approved the fiscal year 2026 budget for the Republic of Liberia, deeming it ready for passage," said the report by the Committee as read by Chief Clerk, Madam Mildred Sayon.
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The document outlines the breakdown into adjusted revenue and core expenditure, alongside contingent revenue and contingent expenditure, with the exchange rate based on the Central Bank of Liberia's (CBL) average preceding the budget's passage.
It can be recalled that President Joseph Nyuma Boakai through the Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, submitted the proposed budget in October to House Speaker Richard Nagbe Koon.
According to the committee report, buttressed further presentation by the Chairman of the Committee on Ways, Means and Finance, Maryland County District 1 Representative, P. Mike Jury, indicated that the proposed budget underscores Liberia's focus on domestic revenue as the primary funding source.
During the scrutiny process, he revealed that the Committee found additional revenue which amounts to US$38.8 million.
"We invited the Ministry of Finance and Development Planning and the Liberia Revenue Authority to brief them about this," stated Jury.
Lawmakers Dissented On Passage
Though the report entails recommendation for passage, two lawmakers - Montserrado County District 9 Representative Frank Saah Foko and Nimba County District 7 Representative, Musa Hassan Bility, expressed dissenting views and voted against the budget passage.
Rep. Foko stated that the budget is not in the interest of the Liberian people, and as such, he could not endorse the committee's report for passage.
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According to him, the budget as passed only addresses mainly salaries and benefits and left out lifting Liberians from poverty.
Similarly, Rep. Bility states that the budget fails to meet the benchmark to address the issues of Liberians.
Despite these dissenting opinions, a motion was proffered by Grand Gedeh County District 1 Representative, Jerimiah Sokan, for the instrument to be passed - hence, it was overwhelmingly voted upon.
According to our legislative reporter assigned at the House, 42 members voted for, two against and one abstained.
